New Delhi, Oct 1: The CBI Court in Ahmedabad has convicted and sentenced a former Indian Oil Corporation Limited (IOCL) official to three years of rigorous imprisonment in connection with a financial misappropriation case. The judgment was delivered on September 30, 2025.
The convicted individual, Saji Sajeev, who was serving as Assistant Manager (Finance) at IOCL’s Rajkot Divisional Office, was also ordered to pay a fine of ₹90,000.
According to the CBI, the case was originally registered on November 21, 2011, following a complaint from the Chief Vigilance Officer (CVO) of IOCL, New Delhi. The Vigilance Department had unearthed irregularities amounting to ₹18.90 lakh between 2005 and 2008.
Investigations revealed that the financial fraud was carried out through the manipulation of the General Ledger (G.L.) Cash Imprest account, which was meant for petty cash payments. Sajeev, who was the custodian of this account, allegedly withdrew funds fraudulently over several years while serving as Assistant Manager (Finance).
The CBI statement further highlighted the involvement of another official, Sandeep Harendrabhai Jani, then AO-II at IOCL, Rajkot, whose role also came under scrutiny during the vigilance inquiry.
After a thorough investigation, the agency filed a chargesheet on September 30, 2013. Sajeev was charged with multiple offences, including criminal conspiracy, breach of trust by a public servant, forgery of valuable documents, forgery for the purpose of cheating, use of forged documents as genuine, and criminal misconduct.
After years of trial, the CBI court found Sajeev guilty and handed down the sentence. The verdict marks a significant step in holding public sector officials accountable for financial misconduct and fraud.
